In a harsh turn of events, the U.S. Courts have unveiled a startling revelation: a 30% surge in business bankruptcies for the year concluding on September 30, 2023.
41 sats \ 5 replies \ @Undisciplined 2 Nov 2023
My wife is constantly house hunting and she's noticed a lot of price reductions lately.
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384 sats \ 0 replies \ @TomK OP 2 Nov 2023
I think the real estate market is the slowest of all sectors. Where I live (Spain) I see a contraction along this decade
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179 sats \ 3 replies \ @grayruby 2 Nov 2023
Is she actually house hunting or house window shopping like my wife spends her spare time doing?
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50 sats \ 2 replies \ @Undisciplined 2 Nov 2023
A bit of both. I can opt in to working remotely, so we don't need to move, but we're always looking for a possible upgrade.
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179 sats \ 1 reply \ @grayruby 2 Nov 2023
I just read an article this morning that some folks in Canada are walking away from huge deposits for preconstruction homes they aped into during the pandemic when mortgage rates were 1.75% and now that they are 6% and you need to qualify at 9% (due to mortgage stress test rules) they can't get financing so their option is to walk away and lose their deposit, try to sell on assignment or let the developer take back the property and get sued for any shortcoming between what the developer sold it for and what they signed the deal for.
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50 sats \ 0 replies \ @Undisciplined 2 Nov 2023
Fascinating. We've got our fingers crossed that our housing market collapses after somewhere we're interested in and we can get a screaming deal without losing our current equity.
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21 sats \ 1 reply \ @grayruby 2 Nov 2023
Not a surprise. I sold my business in Jan 2022 but I still keep in touch with my former business partner who bought me out and he recently told me two of our former clients have filed for bankruptcy in the past 6 months. Both mid size businesses that were expanding really fast during the low interest rate years and took on a ton of debt. Unfortunate.
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20 sats \ 0 replies \ @TomK OP 2 Nov 2023
I am in the midst of it. But running two small businesses without debt won't hurt too much
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21 sats \ 1 reply \ @garyKrause_ 2 Nov 2023
Sauce?
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40 sats \ 0 replies \ @TomK OP 2 Nov 2023
https://www.reuters.com/legal/transactional/us-business-bankruptcies-rose-30-court-stats-show-2023-10-26/
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0 sats \ 0 replies \ @Zepasta 2 Nov 2023
Its all going acording to plan, kill all small/mid Business, more centralized power
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0 sats \ 2 replies \ @BitByBit21 2 Nov 2023
This is fine.gif
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0 sats \ 1 reply \ @TomK OP 2 Nov 2023
So do You feel it too?
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0 sats \ 0 replies \ @BitByBit21 2 Nov 2023
Yep
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